Used Car Prices Rise Again in the U.S. and May Soar with Import Tariffs (Francesco Vantini – Unsplash)
Used car prices in the United States have started to rise again for the first time in over two years.
A study by iSeeCars pointed to an average increase of 1% in the value of vehicles up to five years old, which represents about $317. This growth is happening even before tariffs on imported cars fully hit the market, indicating that prices could rise even more in the coming months.
The instability caused by Trump administration’s tariffs on imported vehicles is impacting the auto industry. During the pandemic, factory shutdowns caused new car prices to skyrocket. Now, even without increased demand, these tariffs could trigger another surge in new car prices, which will likely also affect the used car market.
With the 25% tariff still in effect, some automakers are suspending shipments of new vehicles to the U.S., waiting for a possible change in government decisions. If that doesn’t happen, iSeeCars estimates that the average price of a used car could rise by as much as $3,200 — around a 10% increase.
Experts also warn that consumers could face increases between $1,300 and $3,800 over the next 6 to 12 months, depending on the type of vehicle.
Source: Motor1.com | Photo: Unsplash | This content was created with the help of AI and reviewed by the editorial team
